MIFCO Endorses Muizzu’s Call for Foreign Leadership

The Maldives Industrial Fisheries Company (MIFCO) has hailed President Dr. Mohamed Muizzu’s commitment to prioritise the company’s reforms, including ongoing efforts to appoint a foreign CEO.

In his Independence Day address on Friday, President Muizzu had highlighted the ongoing efforts to revamp MIFCO’s operations by appointing a foreign CEO with international experience in managing major global companies.

advertisement

advertisement

advertisement

advertisement

“I’m not saying a Maldivian can’t do it, but based on past experience, we want someone of that profile.. an individual with international experience, with no connections to anyone in our fisheries sector.. to take on that role. We know how MIFCO falls into debt, that’s why we are trying to bring in someone who can be independent and free of any such influence,” President Muizzu stated.

Last month, the Privatisation and Corporatisation Board (PCB) announced a vacancy for the position of CEO at MIFCO. The advertisement, published in English, sought a candidate with a Bachelor’s and Master’s Degree in Business Administration, Management, or a related field, and at least eight years of professional experience, including four years in an international role managing a fisheries-related company. The position offered a salary range of USD 9,500 to USD 12,000.

Despite these efforts, the PCB announced on July 16 that the vacancy had been annulled due to a lack of eligible applicants.

In a statement released today, MIFCO praised the decision to seek an experienced foreign leader, describing it as a “courageous decision” that reflects the president’s commitment to eliminating negative practices within the sector.

“It’s no doubt a sign of the president’s priority to put a stop to the negative practices in this sector,” the statement read.

MIFCO also expressed it’s “pride” in being the first state-owned enterprise singled out for reforms and reiterated its dedication to enhance efficiency.

Earlier this month, MIFCO announced several measures to boost efficiency, including a 20 percent wage reduction for senior and middle management staff, allowance cuts, as well as layoffs for temporary and underperforming employees.

The Maldives Industrial Fisheries Company (MIFCO) has hailed President Dr. Mohamed Muizzu’s commitment to prioritise the company’s reforms, including ongoing efforts to appoint a foreign CEO.

In his Independence Day address on Friday, President Muizzu had highlighted the ongoing efforts to revamp MIFCO’s operations by appointing a foreign CEO with international experience in managing major global companies.

“I’m not saying a Maldivian can’t do it, but based on past experience, we want someone of that profile.. an individual with international experience, with no connections to anyone in our fisheries sector.. to take on that role. We know how MIFCO falls into debt, that’s why we are trying to bring in someone who can be independent and free of any such influence,” President Muizzu stated.

Last month, the Privatisation and Corporatisation Board (PCB) announced a vacancy for the position of CEO at MIFCO. The advertisement, published in English, sought a candidate with a Bachelor’s and Master’s Degree in Business Administration, Management, or a related field, and at least eight years of professional experience, including four years in an international role managing a fisheries-related company. The position offered a salary range of USD 9,500 to USD 12,000.

Despite these efforts, the PCB announced on July 16 that the vacancy had been annulled due to a lack of eligible applicants.

In a statement released today, MIFCO praised the decision to seek an experienced foreign leader, describing it as a “courageous decision” that reflects the president’s commitment to eliminating negative practices within the sector.

“It’s no doubt a sign of the president’s priority to put a stop to the negative practices in this sector,” the statement read.

MIFCO also expressed it’s “pride” in being the first state-owned enterprise singled out for reforms and reiterated its dedication to enhance efficiency.

Earlier this month, MIFCO announced several measures to boost efficiency, including a 20 percent wage reduction for senior and middle management staff, allowance cuts, as well as layoffs for temporary and underperforming employees.